Flutter reports 45% US revenue growth in Q1

FanDuel had revenues of $574m during Q1, cementing its place as the most-used sportsbook in the United States.

Flutter’s US operations had a successful Q1, with FanDuel, the company’s US-based sportsbook, leading the nation’s market. 

Revenue for the sportsbook came in at $574m, as 2.4 million people logged into the sports betting platform. This number puts FanDuel at the top of the market, with a 37% betting share. 

“Flutter delivered a positive Q1 performance with revenue growth of 6%,” said Peter Jackson, Chief Executive at Flutter. “The quarter saw us launch our new global sustainability strategy, the Positive Impact Plan, aligning commercial goals with our commitment to support our customers, colleagues and the communities in which we operate.”

During Q1, 1.3 million new customers joined the betting platform, as the company launched its offering in New York and Louisiana. Indeed, this New York launch, which began slowly, has since seen FanDuel become the state’s most prominent sportsbook. 

This growth was propelled by a generally busy sporting calendar as the Super Bowl and March Madness brought bettors out in their droves.

“In the US we had another exciting quarter as FanDuel continued to deliver unparalleled scale, with the US accounting for over half of all stakes for the Flutter Group in Q1,” continued Jackson.  

“We launched our FanDuel sportsbook in New York and Louisiana in January and also expanded into Ontario in April. We beat a number of FanDuel records in the quarter; Super Bowl Sunday was the single biggest day ever for new customers and we had over 1.5 million active customers on the day. March Madness this year also proved our most popular season yet attracting 19m wagers across the tournament.”

Overall, sportsbook revenue was up 89% for FanDuel during Q1, marking a positive period of growth for the brand. 

Meanwhile, following the launch of its iGaming offering in Connecticut late last year, FanDuel reports that it became the most-used casino app in the state. 

Concluding this report, Jackson noted: “With our enlarged recreational customer base, winning position in the US and ongoing focus on sustainable growth, our business remains well placed for the future.”

Henry Moore

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